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5. In Class (or Video) Tennis Ball Production Experiment Total Marginal Units of Total Cost Product Average Average Marginal Product Labor (TC, $) Total Cost

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5. In Class (or Video) Tennis Ball Production Experiment Total Marginal Units of Total Cost Product Average Average Marginal Product Labor (TC, $) Total Cost Variable Cost (TP or q, (MP, tennis Cost (MC, $) (L) (ATC, $) tennis balls) balls) (AVC, $) 0 2 4 6 8 To fill in the cost columns above, you need to know that each bucket cost $4 (we used 2), the balls were free (donation from the Men's tennis team!) and wage per worker (I gave each worker "$10" for their work). Use the space below to create the following TWO graphs 1) production function, 2) short run cost curves: MC, ATC, AVC (put these 3 all on one graph!). You should PLOT the data you have from above

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